30-year-mortgage rate rises to 4.40%

WASHINGTON (MarketWatch) -- The average rate for a 30-year fixed-rate mortgage rose to 4.40% in the week that ended March 27 from 4.32% in the prior week, according to a Thursday report from federally controlled mortgage buyer Freddie Mac
FMCC, -0.87%
A year ago, the 30-year rate was at 3.57%. The average rate for the 15-year fixed-rate mortgage increased to 3.42% in the latest week from 3.32% in the prior week. Rates rose after Federal Reserve Chairwoman Janet Yellen recently signaled "a possible increase in interest rates as soon as early 2015," said Frank Nothaft, Freddie's chief economist. Meanwhile, the rate for a 5-year Treasury-indexed hybrid adjustable-rate mortgage rose to 3.10% from 3.02%. The rate for a 1-year Treasury-indexed ARM declined to 2.44%, hitting a record low, from 2.49% in the prior week. The 1-year ARM data go back to 1984.

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